---
schema_version: "secwatch.filing_event.v1"
accession: "0001829126-23-004888"
form_type: "8-K"
ticker: null
cik: "0001853580"
company_name: "Perception Capital Corp. III"
filed_at: "2023-07-26T23:59:59+00:00"
generated_at: "2026-06-13T02:28:43.239243+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Portage Fintech SPAC extends deadline, 22M shares redeemed; entire board and management replaced

## Summary
- Shareholders approved extension of business combination deadline from 24 to 36 months after July 23, 2021 IPO.
- Redemption limitation removed; 22,001,009 Class A shares redeemed at $10.41, removing ~$229.1M from trust.
- Trust balance drops to ~$40.7M; only 3,910,370 Class A shares remain outstanding.
- Sponsor sold to Perception Capital; all 8 directors resigned, replaced by 5 new directors including Scott Honour.
- New CEO Rick Gaenzle, CFO Corey Campbell, Co-Presidents Tao Tan and Jim Sheridan; prior CEO/COO resigned.

## SEC filing metadata
- accession: 0001829126-23-004888
- form_type: 8-K
- cik: 0001853580
- company_name: Perception Capital Corp. III
- filed_at: 2023-07-26T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 3.03, 5.03, 5.07, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1853580/000182912623004888/0001829126-23-004888-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1853580/000182912623004888/portagefintech_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001829126-23-004888
- JSON: https://secwatch.observer/filing/0001829126-23-004888.json
- Plain text: https://secwatch.observer/filing/0001829126-23-004888.txt

## Key facts
- Governance Changes
  Perception Capital Corp. III: Approved Redemption Limitation Amendment to eliminate the $5,000,001 net tangible asset redemption limitation (effective 2023-07-21).
  - Change: charter amendment
  - Effective: 2023-07-21
  source text: sought to eliminate from the Articles the limitation that the Company shall not redeem Class A ordinary shares
  evidence_url: https://www.sec.gov/Archives/edgar/data/1853580/000182912623004888/0001829126-23-004888-index.htm
- Governance Changes
  Perception Capital Corp. III: Approved Extension Amendment to extend business combination deadline from 24 to 36 months from IPO closing (effective 2023-07-21).
  - Change: charter amendment
  - Effective: 2023-07-21
  source text: the Company’s shareholders approved two proposals to amend the Company’s amended and restated memorandum and articles of association
  evidence_url: https://www.sec.gov/Archives/edgar/data/1853580/000182912623004888/0001829126-23-004888-index.htm
- Shareholder Votes
  Perception Capital Corp. III shareholders approved Extension Amendment Proposal.
  - Outcome: passed
  source text: The applicable shareholders approved the Extension Amendment Proposal and the Redemption Limitation Amendment Proposal. The voting results for each proposal were as follows: The Extension Amendment Proposal For Against Abstain 23,735,338 812,820 1,620
  evidence_url: https://www.sec.gov/Archives/edgar/data/1853580/000182912623004888/0001829126-23-004888-index.htm
- Shareholder Votes
  Perception Capital Corp. III shareholders approved Redemption Limitation Amendment Proposal.
  - Outcome: passed
  source text: The Redemption Limitation Amendment Proposal For Against Abstain 23,824,466 723,664 1,648
  evidence_url: https://www.sec.gov/Archives/edgar/data/1853580/000182912623004888/0001829126-23-004888-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.